Foreigners withdraw $5.3m from Pak equity market
Sunday, 6 December 2009
KARACHI, Dec 5 (Business Recorder): An outflow of $5.3 million of foreign portfolio investment from the country's equity market was witnessed during the week ended on December 4, 2009. "The offshore investors trimmed down their positions primarily due to uncertainty in the political climate and the prevailing security situation in the country", analysts said.
The banks/DFIs, mutual funds and individuals were the net buyers at the local share market, while foreigners were among the major net sellers during the outgoing four days week as the market remained closed Monday on account of Eid.
The week started under heavy selling by foreign investors and they offloaded shares worth $4,519,045 Tuesday. The situation slightly improved with the net buying of shares worth $756,868 by the offshore investors Wednesday.
The banks/DFIs, mutual funds and individuals were the net buyers at the local share market, while foreigners were among the major net sellers during the outgoing four days week as the market remained closed Monday on account of Eid.
The week started under heavy selling by foreign investors and they offloaded shares worth $4,519,045 Tuesday. The situation slightly improved with the net buying of shares worth $756,868 by the offshore investors Wednesday.